Shares of Hub Group dropped 19% after revealing a $77 million accounting error in purchased transportation expenses for the first three quarters of 2025. The company is reviewing financial statements and has delayed reporting. Hub Group plans to restate financials for those quarters and assess potential impacts on 2024 and 2023 results. Despite the error, the company doesn’t expect any impact on its cash position or operating cash flows, which totaled $194 million in 2025. Some analysts downgraded the stock, estimating a significant impact on operating margins from the understated expenses. Intermodal and Transportation Solutions revenue declined slightly in the fourth quarter, with brokerage volumes also down. Full-year 2025 revenue was approximately $3.7 billion, a 7% decrease year over year. Bleichmar Fonti & Auld LLP is investigating if federal securities laws were violated by misleading statements to investors.

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